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MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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Application Instructions:
Attached is a loan application for the Agricultural Marketing Loan Fund. In order to apply for a loan under this program, please
submit the following:
1. Please start by writing a letter, requesting an eligibility determination, to the Department of Agriculture AMLF program manager at 28 State House Station, Augusta, ME 04333. The letter must describe your project, for what you intend to borrow
the money, the total project costs, and how much you intend to borrow from the AMLF program. The Department will
determine whether the project is eligible under the program rules and send you and FAME a letter to that effect.
2. The loan process may take between 30-60 days to complete. If you feel you will need to incur some project costs prior to loan
approval, in the letter in (1) above, ask for a waiver of the rules prohibiting startup of the project prior to loan approval. In this
way, any costs incurred between the date of the letter and final loan approval will be included as project costs. Any costs
incurred prior to this letter cannot be eligible costs under the program.
3. Review the loan application with your banker or other financing source. The AMLF loan fund requires a commitment of at
least 10% from you and/or other financing sources if the loan is for under $100,000, or up to 25% for projects requesting over
$100,000. In any event, your contribution must be at least 5%. Your commitment can be in the form of cash equity or in-kind services, such as labor or materials you generate for the project. In either case, the maximum amount of the project costs
contributed by the AMLF fund is $250,000.
4. Send us a completed application and attachments at the address in 1. above. In many cases, the information provided to your
banker will be similar to what is required for AMLF. If you have problems filling out the application or gathering information,
please feel free to call a FAME loan officer who can help you determine how much information is necessary to evaluate your
loan.
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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GENERAL INFORMATION
Date: ________________ Name of Applicant: _______________________________________________________________________ Mailing Address of Applicant : _______________________________________________________________ Project Address: ______________________________________________________________________ Primary Contact Person: ________________________________________________ Telephone #: __________________ Fax: _________________________ Email Address: _______________________________________________ # of Jobs Created ____________ # of Jobs Retained_____________ Legal Form of Applicant Business( i.e. proprietorship, S-corp, partnership): __________________________________________________________________ Ownership - Indicate %: ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ ______________________________________________________________
Date Agricultural /Aquacultural Business established:______________________________________________________
Affiliated Companies: _______________________________________________________________________________ Relation to Borrower:_________________________________________________________________________
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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1. PROJECT DESCRIPTION
A. Briefly describe the project to be completed. For land purchase, provide a copy of the legal description of the parcel. For renovation or construction, provide a copy of the architect/engineering plans or a copy of the blueprint. If blueprints are not available, draw a floor plan of the proposed project.
___________________________________________________________________________
___________________________________________________________________________ ___________________________________________________________________________
___________________________________________________________________________ ___________________________________________________________________________
___________________________________________________________________________ ___________________________________________________________________________
___________________________________________________________________________ ___________________________________________________________________________
___________________________________________________________________________
B. AMLF is geared toward improving the overall health of the agricultural/aquacultural industries in Maine. Explain how this project will enhance your operation, improve your land or buildings, or otherwise improve profits or markets.
___________________________________________________________________________
___________________________________________________________________________ ___________________________________________________________________________
___________________________________________________________________________ ___________________________________________________________________________
___________________________________________________________________________ ___________________________________________________________________________
___________________________________________________________________________
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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2. PROJECT COST AND LOAN REQUEST SUMMARY
A. Describe each cost associated with the proposed project. Provide copies of vendor quotes, contractor estimates, and any other documentation available to support project costs.
Specific Project Component (include any legal fees for land purchases) Cost of Component
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
_____________________________________________________ $_________________
Standard Costs:
1% Administration Fee (If AMLF Loan >than $100,000) $__________________
Legal Fees $__________________
TOTAL PROJECT COSTS $___________________
B. Provide detail regarding sources of funds distribution to finance the project. 1. AMLF Loan Amount
(either 75%(>$100,000) or 90% (<$100,000)of total project cost
Term Requested _______________ $__________________
2. Owner Cash Equity or In-Kind Services Amount
(minimum 5% of total project cost) 1. $__________________
3. Bank Loan Amount 2. $__________________
Name of Bank _________________________________
Loan Officer __________________________________
Telephone # ___________________________________ Loan Term ___________________________________
Interest Rate __________________________________
4. Other Financing Amount (if applicable)2. $___________________
Loan Officer __________________________________
Telephone # __________________________________
Loan Term ____________________________________
Interest Rate ___________________________________
TOTAL All SOURCES $___________________
1. Must be in form of cash injection or in kind services. In the case of cooperative projects by two or more agricultural enterprises, the
commitment of private funds shall total at least 5% of the total project costs. 2. Please include copies of accepted commitment letters from all sources of funding for the project, including senior and subordinated debt
and other equity sources.
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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3. COLLATERAL STRUCTURE FOR PROPOSED AMLF LOAN
A. Identify collateral offered to secure the AMLF Loan and identify any prior lien holder.
Collateral
Type/Location
Agricultural
Loan Position
Value of
Property
Amount of Prior
Lien(s)
Name of
Prior Lien
Holder(s)
Basis for
Collateral
Valuation
4. CREDITORS
A. Identify existing loans and debt service payments (i.e. bank financing, equipment, supplier financing, leases, vendor financing).
Name of
Creditor Loan Purpose
Outstanding
Balance
Payment Amount
and Frequency
Maturity
Date
B. Identify and explain any creditor delinquency.
___________________________________________________________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________
___________________________________________________________________________________________
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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5. BUSINESS FINANCIAL PROFILE
Assets
Liabilities
Cash on hand and in Banks Notes Payable to Banks - Secured (Complete Schedule E)
U.S. Government Securities (Complete Schedule A)
Notes Payable to Banks - Unsecured (Complete Schedule E)
Stocks and Bonds (See schedule A) Due to Brokers
Non-Marketable Securities (Complete Schedule B)
Mortgages (Complete Schedule C)
Real Estate (Complete Schedule C) Credit Cards [Please itemize]
Accounts, loans, and notes receivable 1.
Retirement Accounts (vested portion) 2.
Life Insurance - cash surrender value only (Complete Schedule D)
3
Automobiles 4.
Other Assets [Please itemize] Other accounts and bills due [car payments, etc. Please itemize]
1. 1
2. 2.
3. 3. Unpaid income tax or other taxes and interest
4. Total Liabilities
Net Worth
Total Assets Total Liabilities and Net Worth
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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6. BUSINESS INCOME AND EXPENSES
Sources of Income
Annual Expenses
Annual Income, Bonuses and Commissions Mortgage/Rental Payments
Dividends Real Estate Taxes
Rental Income Insurance Premiums
Other Income [Please itemize]
Federal, State and Local Taxes
Other expenses [Please itemize]
Total Income Total Expenses
Contingent Liabilities
Do you have any contingent liabilities?
If yes, please indicate liability and provide details on a separate sheet.
As endorser, co-maker, or guarantor?
Contested taxes?
Damage claims or legal actions?
Other? [Please itemize]
Total Liabilities
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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7. PERSONAL FINANCIAL PROFILE
Assets
Liabilities
Cash on hand and in Banks Notes Payable to Banks - Secured (Complete Schedule E)
U.S. Government Securities (Complete Schedule A)
Notes Payable to Banks - Unsecured (Complete Schedule E)
Stocks and Bonds (See schedule A) Due to Brokers
Non-Marketable Securities (Complete Schedule B)
Mortgages (Complete Schedule C)
Real Estate (Complete Schedule C) Credit Cards [Please itemize]
Accounts, loans, and notes receivable 1.
Retirement Accounts (vested portion) 2.
Life Insurance - cash surrender value only (Complete Schedule D)
3
Automobiles 4.
Other Assets [Please itemize] Other accounts and bills due [car payments, etc. Please itemize]
1. 1
2. 2.
3. 3. Unpaid income tax or other taxes and interest
4. Total Liabilities
Net Worth
Total Assets Total Liabilities and Net Worth
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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8. PERSONAL INCOME AND EXPENSES
Sources of Income
Annual Expenses
Annual Income, Bonuses and Commissions Mortgage/Rental Payments
Dividends Real Estate Taxes
Rental Income Insurance Premiums
Other Income [Please itemize] You need not disclose alimony, child support or separate maintenance income unless you wish the Authority to consider them in a credit decision.
Federal, State and Local Taxes
Credit Cards, Car Payments, etc.
Alimony, Child Support or Maintenance Income
Other expenses [Please itemize]
Total Income Total Expenses
Contingent Liabilities
Do you have any contingent liabilities?
If yes, please indicate liability and provide details on a separate sheet.
As endorser, co-maker, or guarantor?
Contested taxes?
Damage claims or legal actions?
Other? [Please itemize]
Total Liabilities
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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Schedule A. Government Securities, Stock & Bonds
Number of units/Shares
Description In Name of Market Value per share
Total Market Value
Pledged as
Security
Yes� No�
Yes� No�
Schedule B. Non-marketable Securities
Number of units/Shares
Description In Name of Market Value per
share Total Market
Value
Pledged as
Security
Yes� No�
Yes� No�
Schedule C. Real Estate Equity
Address
Name on Title
% Own
Cost Monthly Payment
Market Value
Outstanding Mortgage
Financial Instituti
on
Personal Residence
Property
Property
Schedule D. Individual and Group Life Insurance
Insurance Company
Policy Owner Beneficiary Face
Amount Policy Loans
Cash Surrender Value
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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Schedule E. Loan Relationships (Exclusive of Real Estate Loans)
Lender Original Loan
Amount Date of
Loan Monthly Payment
Secured or Unsecured
Current outstanding
Balance
Schedule F. Businesses -List all businesses in which you are a principal/partner
Business Name % Ownership Position/Title Total Business
Assets Type of
Business Year
Established
9. GENERAL INFORMATION
Note: Answering yes to any of the following questions does not automatically disqualify you from
obtaining a loan.
Have you ever had a Reposession? Yes No
Have you ever declared bankruptcy? Yes No
Have you ever been convicted of, or pleaded guilty to a criminal offense, other than a minor traffic
violation? Yes No
If you answered yes to one or more of the above questions, please provide details.
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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10. CERTIFICATION AND AUTHORIZATION
A. The undersigned hereby certifies that all of the information provided in or with this application, including,
without limitation, the Business or personal financial profile information in Part 5, is true, complete and accurate,
and agrees to immediately notify the Department of any material change in the truth, accuracy or completeness
of such information.
B. The undersigned hereby authorizes ______________________________________ (Lender) to release to the
Finance Authority of Maine (the “Authority”), which is under contract to administer the Agricultural Marketing
Loan Fund, any financial, appraisal or credit information in its possession pertaining to the business or the
project which are the subjects of this application, at any time upon the request of the Authority in order to enable
the Authority to perform a loan analysis or any other of its contractual duties in connection with this application.
Your signature below gives the Authority permission to order a consumer credit report on individuals owning 20% or more interest in the borrowers.
Signature(s) of Applicant(s)/guarantor(s):
_____________________________________________________ ___________________________
Printed Name Date
_____________________________________________________
Social Security Number
_____________________________________________________ ___________________________
Printed Name Date
_____________________________________________________ Social Security Number
_____________________________________________________ ___________________________
Printed Name Title Date
_____________________________________________________
Social Security Number
MAINE AGRICULTURAL MARKETING LOAN FUND (AMLF) LOAN APPLICATION
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11. OTHER INFORMATION REQUIRED
Depending on the size and type of loan, the following information is required. At a minimum, provide past two years of federal income tax returns, personal financials and Business plan showing marketing plan and cash flow projections.
A. Historical Business Financials: Financial Statements for the last three years (at a minimum, Federal Income Tax Returns if sole proprietor). B. Interim Financials: Most recent financial statements (balance sheet, profit and loss
statement, cash flow statement). Should be within 90 days of application. C. Personal Financials: Individual Federal Income Tax Return and most recent personal balance
sheet for each owner with 20% or more ownership. D. Future Projections: Pro forma financial statements. E. Plan: Provide the coming years' farm plan or equivalent business plan or production
worksheet, if applicable. F. Appraisals: Provide copies of appraisals, if available. An appraisal or other verification of
collateral value may be required as a condition of the AMLF commitment. G. Lease Agreements: Provide copies of any existing or proposed lease and/or purchase
agreements pertaining to the project. H. Bank Commitment Letter
